Weekly Breakdown for the Week of June 23-27, 2025
Hims & Hers Health Plummets on Novo Deal Termination
Shares of Hims & Hers Health (HIMS) fell 32% after Novo Nordisk (NVO) ended their short-lived partnership over concerns about Hims’ continued sale of compounded versions of Wegovy, despite the FDA declaring the drug no longer in shortage.
Novo accused Hims of using misleading marketing and violating drug laws, while Hims claimed Novo was trying to pressure them into steering patients toward the branded medication.
The fallout threatens Hims’ credibility and future revenue projections, especially since rival telehealth firms still maintain partnerships with Novo.
The dispute highlights tensions over the legality and ethics of selling cheaper, compounded alternatives to popular weight-loss drugs.
Core Scientific Surges on Acquisition Reports
Shares of Core Scientific (CORZ) rose sharply following reports that AI cloud infrastructure company CoreWeave (CRWV) is in talks to acquire the bitcoin mining firm.
The stock jumped 33% after news broke that a deal could be finalized in the coming weeks. CoreWeave previously attempted to buy Core Scientific in 2023 but was turned down over price concerns.
Despite that, the two companies have continued to collaborate on long-term hosting agreements.
Analysts believe the acquisition would provide strategic advantages for CoreWeave, including cost reduction and expanded data center capacity.
Estimated valuations for Core Scientific in a potential deal range from $16 to over $30 per share.
Robotaxi Wars: Google, Uber, and Tesla Compete
GOOGL’s Waymo is launching its robotaxi service in parts of Atlanta this week, expanding its partnership with Uber (UBER) that began in Austin earlier this year.
The move comes shortly after Tesla (TSLA) debuted a limited robotaxi service in Austin, though Tesla’s version still includes a human safety monitor.
In contrast, Waymo and Uber have deployed around 100 fully driverless vehicles in Austin, and will use a similar model in Atlanta, where customers can request rides through the Uber app and opt for a human driver if preferred.
The service will initially cover a 65-square-mile area and is expected to grow.
With over 250,000 paid rides per week, Waymo leads the early robotaxi market, but competition is intensifying as Tesla and Amazon’s (AMZN) Zoox prepare to expand their services.
Uber, having exited its own self-driving development after a fatal crash and a legal battle with Waymo, is now relying on partnerships like this to stay competitive in the evolving autonomous ride-hailing industry.
Tariffs are Back in the Spotlight
President Donald Trump indicated he may not adhere strictly to early July deadlines for reinstating high tariffs on numerous countries, suggesting the timing could be changed at his discretion.
These tariffs, paused for 90 days by an April executive order, are set to return to steep levels unless the order is formally revised.
While the administration initially planned to use the pause to secure trade deals with various nations, only limited agreements with China and the U.K. have been reached so far.
Trump’s remarks reflect growing uncertainty around the tariff timeline, despite legal challenges and economic concerns over the potential impact.
Nike Jumps on Turnaround Hopes
Nike (NKE) shares surged Friday after the company beat Q4 earnings expectations and received several price-target upgrades from analysts.
Despite a 12% drop in revenue to $11.1 billion and declines across major regions and sales channels, Nike’s earnings of 14 cents per share topped estimates.
Executives acknowledged the challenges but expressed confidence in ongoing turnaround efforts, including inventory liquidation and margin recovery.
Nike expects revenue and margin pressures to continue into Q1 but sees improvement later.
Analysts from JPMorgan, BofA, and HSBC responded positively, citing signs of recovery, innovation potential, and expected sales growth, with all raising their price targets.
Sector Weekly Performance
Current Themes & Volatile Movers
Headline Reactions
News catalysts of all types caused sharp reactions in many stocks this week.
CRCL down 24% this week as a large mean-reversion took place in the stock after its recent parabolic run.
SMCI up 12% this week as AI and data center related stocks saw strong momentum.
NTRS up 8% this week after the WSJ reported that BK recently approached Northern Trust to discuss a potential takeover. However, it was later reported that Northern Trust is committed to staying independent.
ASTS up 13% this week after receiving a $45 price target from Scotiabank.
CRWV down 8% this week after recent momentum slowed in the stock amid general market volatility.
OKLO down 2% this week despite the WSJ reporting that New York will build one of the first US nuclear-power plants in a generation.
TDOC up 24% this week after positive comments from Citron Research were posted on social media.
RKLB up 22% this week after the company launched its 67th Electron rocket on a dedicated mission for radio frequency geospatial analytics provider HawkEye 360.
BBAI up 53% this week after announcing expanded biometric software deployments at major international airports.
AMD up 10% this week after the company announced a strategic alliance with HCLTech to develop future-ready solutions through AI-powered digital and cloud innovation.
COIN up 17% this week amid rising crypto prices. Additionally, the company recently secured an EU crypto license.
ENPH up 13% this week following reports that rooftop solar credits may be changed in the Senate.
HOOD up 7% this week after announcing the launch of a new crypto deposit match program.
XOM down 6% this week as oil prices fell after Israel and Iran agreed to a ceasefire.
QS up 56% this week after the company announced it achieved a key 2025 milestone by successfully integrating its advanced Cobra separator process into baseline cell production.
NVDA up 10% this week after Loop Capital raised its price target on the stock to $250.
PONY up 18% this week following a report suggesting that Uber co-founder, Travis Kalanick, would run the company if the ride-sharing company helps fund the acquisition of Pony’s US arm.
SPOT up 9% this week after B of A Securities raised its price target to $900.
PLTR down 5% this week due to a large index rebalance sell program on Friday.
INMB down 7% this week after announcing a $19M direct offering.
BA up 7% this week after receiving a price target increase from Redburn Atlantic to $275.
Earnings Reactions
Earnings reports brought volatility to many individual stocks, with forward guidance being a significant driver of earnings reactions.
Up on Earnings
FDX up 2% this week following its financial report and soft forward guidance.
MU up 2% this week after reporting financial results that beat expectations.
Down on Earnings
PAYX down 4% this week after the company reported worse-than-expected sales results.
GIS down 5% this week after reporting mixed financial results and issuing weak FY26 adjusted guidance.
Market & Economic News
Oil fell 8% after Iran conducted a muted counterstrike, with advanced notice and no damage, near a US base on Monday, signaling a de-escalation.
A ceasefire between Israel and Iran is now officially in effect. Oil continued to drop on the news.
Fed Chair Powell stated that if inflation data is soft in the near future, the timing of rate cuts may be moved forward.
Fannie Mae and Freddie Mac will recognize crypto assets on mortgage applications.
The Fed proposed easing leverage ratio rules for large banks.
The EU is reportedly considering lower tariffs on US imports.
The White House stated that the upcoming July 9th reciprocal tariff deadline could be flexible and possibly extended.
Trump stated that the US is terminating all trade talks with Canada, effective immediately.
The US plans actions to boost energy supply for AI development.
The stock market will close early on Thursday, July 3rd, and will be closed on Friday, July 4th, for the Independence Day Holiday.
Upcoming Earnings
Monday 6/30/25
PRGS, QMCO
Tuesday 7/1/25
MSM, STZ, GBX
Wednesday 7/2/25
UNF, FC, ZENV
Thursday 7/3/25
N/A
Friday 7/4/25
N/A
Upcoming Economic Events & Data
Monday 6/30/25
Chicago PMI
Fed Bostic Speech
Dallas Fed Manufacturing Index
Tuesday 7/1/25
Fed Chair Powell Speech
ISM Manufacturing PMI
JOLTs Job Openings
ISM Manufacturing Employment
Wednesday 7/2/25
MBA 30-Year Mortgage Rate
MBA Purchase Index
Challenger Job Cuts
ADP Employment Change
Thursday 7/3/25
Non Farm Payrolls
Unemployment Rate
Initial Jobless Claims
Continuing Jobless Claims
ISM Services PMI
Stock Market Closes at 1 PM Eastern
Friday 7/4/25
Stock Market is Closed for Independence Day